The total profit of Russian companies in 2023 decreased by 36% to 814 trillion rubles.
This information is reported by The Moscow Times.
In the first year of the full-scale invasion, the figure surpassed one quadrillion for the first time, reaching 1,267 trillion rubles, according to the article.
The decline in organizational revenues last year is attributed to external sanctions, as companies needed to restructure their logistics and production processes, explained Andrey Borodkin, CEO of the Russian «Techzor» group.
He noted that the infrastructure for economic relations with «friendly» countries was not sufficiently developed for Russia, necessitating the establishment of new trade and financial connections last year.
Overall, the situation with the profitability of organizations in 2023 was relatively positive, with indicators at the level of 2019. Some industries, such as machine-building, shifted from consistently unprofitable to profitable. This shift is directly related to the war in Ukraine and state defense orders, as well as import substitution efforts.
